CNBC Cures newsletter<\/a>.<\/p>\nJazz Pharmaceuticals announced Monday that it will acquire Actio Biosciences, Inc. for $820 million upfront and up to $500 million in contingent consideration if additional sales or approval milestones are met.<\/p>\n
The acquisition expands Jazz’s rare epilepsy portfolio, with the deal centered on Actio Biosciences lead drug ABS-1230, an oral precision therapy that has shown early promise in clinical trials treating KCNT1 + epilepsy – a rare disorder for which there is currently no FDA approved treatments.<\/p>\n
“The emerging clinical profile of ABS-1230 is highly encouraging, and we look forward to closing the proposed transaction and collaborating with our new Actio Biosciences colleagues to address an urgent patient need,” Jazz Pharmaceuticals’ president and CEO, Renee Gala, said in a statement released on Monday.\u00a0<\/p>\n
For Dublin-based Jazz, the move bolsters a pipeline that already includes treatments for rare cancers and sleep disorders, in addition to its rare epilepsy portfolio. As part of the deal, Actio’s non-epilepsy focused pipeline will spin-off into a new privately-held company focused on rare genetic neurological diseases. Jazz will hold a minority stake in the new company.<\/p>\n
Both companies have secured approval from both boards, with the deal expected to close by Q4 of this year.<\/p>\n
Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Piotr Swat | Lightrocket | Getty Images CNBC Cures is proudly underwritten by Alexion, AstraZeneca Rare Disease, whose…\n","protected":false},"author":2,"featured_media":856645,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[45,161,49,48,92248,84,1235,392,297923],"class_list":["post-856644","post","type-post","status-publish","format-standard","has-post-thumbnail","category-healthcare","tag-business","tag-business-news","tag-ca","tag-canada","tag-gilead-sciences-inc","tag-health","tag-health-care-industry","tag-healthcare","tag-jazz-pharmaceuticals-plc"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/856644","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=856644"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/856644\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/856645"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=856644"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=856644"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=856644"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}